Steel Mills
Stelco Follows $60/Ton Sheet Price Push
Written by David Schollaert
November 30, 2022
Stelco Holdings Inc. intends to increase spot prices for carbon steel sheet by at least CAD $80 per ton (USD $60 per ton or $4 per cwt).
The move is effective immediately, the company said in a letter to customers on Tuesday, Nov. 29, and applies equally to all new orders of hot-rolled, cold-rolled, and coated steel products in North America.
The Hamilton, Ontario-based steelmaker is the third North American mill to announce a price increase this week. Cleveland-Cliffs and US Steel both announced a $60-per-ton price increase on all flat-rolled products on Monday.
SMU’s HRC price now stands at $625 per ton as of Nov. 29, up $10 per ton from the previous week. It’s still too early to tell if the latest round of mill increases will in fact provide some lift to eroding tags or if it will ultimately be like the price-hike notices back in August. At the time, the move only temporarily delayed an inevitable second round of decreases.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
USW seeks clarity on plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).